Yummy Corp Pockets Series B Funding Worth 175 Billion Rupiah

After last October 2019 completed series A2 . fundraising worth $7,75 million, platform cloud kitchen Yummy Corp. has announced its newest funding. This time, entering the series B stage, the company recorded fresh funds of $12 million or 175 billion Rupiah.

This round was led by SoftBank Ventures Asia (South Korea). Also involved are Vectr Ventures (Hongkong), Appworks Ventures (Taiwan), Quest Ventures (Singapore), Coca Cola Amatil X (Australia), and Palm Drive Capital (United States). Previous investors Intudo Ventures and Sovereign's Capital also took part.

The main focus of using the funds is for business expansion to various other big cities in Indonesia.

"With this funding, we continue to focus on taking an active role in helping the F&B industry players grow their business through: delivery channel as a solution to face all the limitations during the pandemic. We invite all F&B business owners, ok? brand large and MSMEs to work together and develop with us," said Yummy Corp Co-Founder & CEO Mario Suntanu.

Since its establishment in 2017, Yummy Corp has served B2B2C consumers with catering services and services cloud kitchen. The company claims to produce 18 meals per day and has several clients to manage food for their offices including Unilever, Wings, Oakwood, to the United States Embassy.

"Powered by the market food delivery which is growing rapidly in Indonesia, Yummy Corp is now an actor cloud kitchen largest in Indonesia. With the company's strong expertise in the F&B industry and their unique value proposition in their brand, we are confident that Yummy Corp will continue to be a leader in this industry. We are excited to support and help them grow their business in this growing sector," said Harris Yang, SoftBank Ventures Asia representative.

Business potential cloud kitchen

One of Yummy Corp's business units is YummyKitchen, cloud kitchen in Indonesia, which positions itself as a full-fledged operator, not only rents out shared kitchens but also performs operations of various kinds brand so that it can expand faster and reach a wider range of consumers. The company claims to experience positive growth as shown by YummyKitchen during the first half of 2020, including an increase in transactions of up to 320%.

YummyKitchen has operated 70 shared kitchens spread across Jakarta, Bandung and Medan. Currently more than 50 brand F&B has joined, including Ismaya Group, Sour Sally Group, to emerging high-growth brands such as Padang Merdeka, Hong Tang and Dailybox.

The cloud kitchen business is also in demand by the super apps duo in Indonesia. GoFood has started experimenting with forming the business since the end of 2019. The local Decacorn also invested in a cloud kitchen startup from India, named Rebel Foods, one of its targets is to bring its business concept to Indonesia. Temporary Grab Kitchen since Q3 2019 has been operating shared kitchens at 49 points to support its business partners.

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Update: We made an update regarding the number of shared kitchens GrabKitchen, from 10 points to 49 points.